I bought a property with my partner, in 2008, we both entred into a tenants in common agreement, which was to last for a period of 10years. the ratio was on a 25/75 basis my share being 25%.
In 2012, she invited a 3party to stay with him, as a reult I was no longer required to live there, and restictions were placed on my access.
do I have the right to charge the 3rd party rent. duting the remaining agreement.
Thank you. I am reallyconfused by 25/75 tenants in common agreement that only lasted for 10 years.Could you please explain how this worked and the rationale behind it? I amfully au fait tenants in common in different shares but not on a time basis.
Why is your access to theproperty restricted?
Do you mean that you want toknow whether you are entitled to an occupational rent in respect of your 25%which you are not occupying when the property is occupied by someone else?
I need the full backgroundboth with regard to why you entered into the agreement in the form you did andwhat has happened more recently. Thank you
yes I want to know if I can charge rent in respect of my 25%
the time basis of 10years was entred into as I remorgaged my own property to help purchase to property referred to. the remorgage was to last for 10years, in the investment was to some degree help to repay back the mortgage.
It was intended the my partner would take on board the mortgage in his own right. after 10years as he was unable to take on the mortgage in his own right. so after 10years he would have been in position to do so.
So what happened to the 75/25 after 10 years? Did it become 50-50 or what?
Was this drafted by a solicitor
after 10years it lapses. I have the right to sell the property should without permission. or the other party can make me a settlement. if he wish to stay in the house.
the agreement was drafted by a solicitor.
I'm sorry I just don't haveenough facts or background to be able to answer you.
I still don't know whathappens after 10 years. If it lapses, something must happen. It then reverts tojoint tenants you cannot sell a property (whether owned as joint tenants ortenants in common) without the other person's consent.
I'm going to opt out foranother expert because I simply have not got a clue about the rationale behindthis.
The question is now open toall experts.
Please don't reply or itcomes back into my inbox
sorry for late reply you can cancel the question.